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said about this pledge and i will tell you when i go to the constituents that have elected and re-elected me, it is not about that pledge. it really is about trying to solve problems. >> the majority of those who distanced themselves from norquist so far have been senate gop members, not house gop members. do you think that speaker boehner and congressman cantor, do you think they can make any leeway with the caucus on a tax increase? >> well, only time will tell. this is the big question. you're asking the big question because the speaker has set the right tone. now it is time for the right substance. now it is time for the speaker to put his plan on the table. after all, the president hasn't been secret about his plan. the president's plan is there for everybody to see, every american can go to the president's budget plan to see his combination of tax increases on the wealthy in addition to cuts, but speaker boehner has again set the right tone but so far hasn't come up with any substance. >> which entitlements if any are democrats prepared to put on the reform table? >> well, democrats
stech wents that have re-elected me. >> the pledge is for that congress. if i remember in congress in 1941, i would have signed a declaration of war against japan. the world has changed. >> but grover norquist does not think this world has changed. for republicans, who signed his pledge. >> are you going to want to exact punishment on them in two year, what? >> two things. there have been some, the folks whose pictures you put up there, some have engaged in impure thoughts. they haven't actually voted for a tax increase. we could ask president bush how his second term went after he broke his pledge. did he damage the pledge or by breaking his pledge, he lost a second term for the presidency. >> and this morning, even fox and friends were getting all philosophical about till death do us part pledges. >> i think you get into really difficult situations in relationships in general when you make people sign on the dotted line and then you crucify them if they decide to change their line. i'll bring it back to marriage. marriages don't work when one or both parties stand on both sides o
, these are noises that you made to sound conciliatory after an election, and we think back to 2009. the republicans sounded very conciliatory in the days after president obama's reelection when he was holding a high approval rating, but by april or may of his first year that that had melted away. so right now is happy talk from the republicans. we will see whether that materializes into votes. lou: such happy talk, why aren't there more smiling faces in the republican party? >> pretty unhappy talk from what i can tell, and to this point pretty frivolous. you see members of the united states senate demand is not even their negotiations, but taking a timeout to beat up on grover norquist to is some on elected activists type who was not a player in this and does not have a seat at the negotiating table, was not elected. what does he have to do with any of this? is seems to me this is the opportunity for the republicans in the house, but also to some extent in the senate to explain what they want to know what kind of entitlement cuts that will demand. instead they're beating a boy norquist. lou: we als
had. it is where they were before the election. they gotta wake up and see the election, change things and they actually have to meet democrats somewhere in the middle. >> bill: i would hope. i would hope. new york times this morning, front page of the business section in terms of closing loopholes, romney was never specific about which one. new york times is saying that they know -- now we know one of the ones they're targeting. the headline is a tax break once sacred is now seen as vulnerable. what they're talking about is the mortgage interest deduction. there was no doubt it is on the table. it is one they're targeting rather than raise tax rates on the wealthy, they're going to either limit or get rid of the mortgage interest deduction. which is the most popular one. >> the most popular one. politically difficult i think. that's really the problem with romney's entire approach that said we'll just create revenue by closing loopholes. you go down the list of the largest loopholes and pretty quickly, you get to
. and that is to build some public support tap on the good feeling from his re-election to give -- as ryan pointed out. there's some democrats including powerful ones like harry reid that say medicare and medicaid have to be off the table. those democrats do not include president obama who has made it clear he's open to a discussion about medicare and medicaid. and you usually would think there's not enough time to do serious entitlement reform. but the fact is, we've been talking about this set of issues for a year and more, lots of blueprints out there, including simpson/bowles. i think it is possible that will be part of a deal that is reached before the end of the year. >> this morning, dick durbin didn't really want to get into specifics. you aren't hearing a lot of numbers from a lot of people, but did say he was encouraged. take a listen. >> if i sound bland and general at this point, it's exactly to the point he made. when the doors close and we sit down with revenue on one side, entitlements on the other, then we get specific and come up with a bipartisan plan. >> ryan, to susan's point of wh
. these are four state department workers who knew the dangers of what they were involved in. they elected to be there. it is a tragic loss of life, but it's not one that we, you know, obviously as the senator said, this is a terrible intelligence failure. but what is the case moving forward? now that rice has gone up there and done her due diligence with meeting three of her harshest critics, how does she move on from this if she is the one, again, by these three senators be pinned with, well, she was wrong the whole time? >> thomas, that's a good question. i would say that the focus here, i really think should be on what happened catching these terrorists and making sure it doesn't happen again. and i think with this overheated rhetoric, we're missing the point, and that is to really investigate the security around the consulate and then what happened afterwards. and i think that's where we should be focusing our energy. i think that, look, if the president chooses to nominate her to be secretary of state, she's very well qualified. she should be able to receive a fair hearing from in th
is going on? >>guest: republicans lost the election. it was about tax policy. most republicans want to get a deal they have to give something up. they will want something in run so if they bend on taxes they will want an entitlement reform, so, that is the rub, but, republicans do not want to raise the rates with you they want to eliminate the tax loopholes and bay down the debt. that would break grover's pledge. >>neil: i have the pledge, something that a lot of the guys signed on to, quite a few but what stands out is the second part of the pledge, you oppose any elimination of deductions and credits unless matched dollar for dollar by further reducing tax rates. it is the tax rate stuff that will not help. what do we make of either this moment of reality, this post election come to whoever moment or what? >>guest: the democrats have been frustrated with the g.o.p.'s sticking to the pledge and now, president obama won a second term, it is very important that any deal they sign off on would break part of the pledge. i don't think the democrats will sign off on anything that doesn't at lea
first interview since the election, reince priebus, chairman of the republican national committee. welcome back, mr. priebus. how are you? >> doing great, piers. how are you? >> you have been keeping your head below the paraput since the shellacking you guys took in the election. what is your reaction to the pretty poor defeat? >> well, i think that we got to look at everything that we're doing. i think that's what we have to do. i don't think you can draw any quick conclusions other than the fact that we lost and we know that. but i think in order to get back in the game, you've got to look at and do a full autopsy of what happened, what we did well, what we didn't do well, what we can do better in the next year with two governors' races coming up and two years later, then four years from now. so what we're going to do is we want to bring everyone together. leaders from across the country, to look at everything that we've done, come up with a game plan, sort of a four-year plan of what we can do in the communities, out there across america, to do a long sustained year by year cam
been the story in america for the past three decades. this election with a bit of a referendum on that balance of power. we will see if the president has that muscle to push that through. interesting that you mentioned mark carney. he is a hero, in my book. as one of the governors of the bank of canada, he thought -- fought the powers there. >> sure the discussion that america is having now focus on this issue of inequality that you have written about in your book? and will the election results give president obama a mandate to do just that? >> i think it should be part of the discussion. the argument sometimes from conservatives, and also from not just the 1%, but the 0.1%, is, does it make sense to focus on the rich if there is not that much revenue there? actually, i think so much money is concentrated at the top of the income distribution, there is money to be had. but equally important hit a sense of fairness. as warren buffett has pointed out, the fact that he pays taxes at an effective rate much lower to that -- much lower than that of lower-income americans, makes it ha
is that republicans seem to be running around with the tail between their leg after the election and acquiescing on revenues and letting the democrats stream roll them and he says they will pay in two years. do you feel threatened? >>guest: will, republicans have to be for some things and we need to be for things and for spending cuts. we need to be for entitlement reform. that has to be done if we are ever going to be serious about this debt issue, i don't think we should disrespect grover norquist any more than i believe we should disrespect the heritage foundation or any others. i respect them. we just don't always agree. >>neil: what he is saying, senator, he says that there is much more propensity to come up with creative ways to raise revenue than to cut spending. and that it is disproportionately so and republicans are going along with this like idiots. >> well, the negotiations have not seriously begun and people have staked out various positions so we with have to look at the products of the negotiations. >>neil: will we avoid a calamity? >> i'm not sure. i don't think we will because i
. the election -- go ahead. i'm sorry. gerri: i was thinking, so much equanimity. >> reporter: well, the election is over. the campaign continues in washington. congressional leaders admit talks over how to get the federal budget in order have slowed. congressional aides say they have received no and buy from the white house for another deficit meeting. instead, the president is hosting small business leaders, ceos, and heading to philadelphia to sell his position on taxes. a spokesman for the house speaker says the president should be focusing on congressional democrats who republicans they refuse to offer necessary spending cuts. other republicans said democrats are simply continuing election season. >> this seems like our friend on the other side are having difficulty turning off the campaign. we need to sit down and work this matter out. >> we are all here, this administration and those who have been elected to congress, to erve the iraqi people. to suggest that we should, now that the election is over, stop talking to them about these vital issues i think is bad advice. >> republicans also
election, the november election, it was a referendum on many republicans. some of them walked away and said, okay, we did not get the senate back, we are moving forward. our republican candidates did not win the presidency were many officers. >> people were looking round the waist deep in seeing a lot of their friends have lost. barack obama may have won the white house, but e republicans do have the house of representatives. the american public is saying that we should stick to the principal principle message that we have said. washington is running way too much money. there may be differences in want of other issues, t on this one, most americans agree that there's too much waste and fraud and abuse and let's eliminate that. cheryl: where do they fit nto this scenario? fatcat ceos, those from honeywell, allstate, do you think that that is going to be a sitive conversation? will congressional leaders listen? >> i would think that they have been listening to the ceos all along. and even lookng at wall street and main street and they all say the same thing. we want certainty out of washingto
an election. >> ambassador rice said today absolutely it was wrong. i don't understand the cia said clearly that information was wrong. and they knew by the 22nd it was wrong. yet, they have not cleared that up with the american people. >> in a statement just now, susan rice admits that the initial information about a protest in benghazi was incorrect, but says no one intended to mislead the public. business as usual, congress is back and picks up just where it left off. stalemated over tax rates and entitlement spending. >> unfortunately, there's one obstacle standing between congress and compromise, grover norquist. for years, norquist has bullied lawmakers willing to put their oath of office or promise to serve constituents ahead of their pledge to this anti-tax zell lot. >> the washington democrats, every dollar that's ever been secured for anything is sacred. every dollar secured for anything is sacred. and they'll defend it to the death regardless of what it means for jobs, or the economy. >>> coming up here, the it's top economic adviser alan krueger. clashes in cairo today, more pro
: >> it's funny to watch a senator or congressman who got himself elected by promising the citizen of his state that he would go to washington to reform government and not to pay taxes. when the going gets rough he wanted to debt ceiling increase. the same cast of chakts are turns in the homework for the second tyne two years later and there's not a snowball rolling. the good news is the people that gave a commitment to the american voters. for four years president obama has not reined in spending. all he did is demand $1.6 trillion of tax increase so he can spend more money, not reining in spending. we need focus on spending problems because that's the problem we have. >> warren buffett wrote this fascinating piece in the "new york times" today. you're familiar with it today. suppose they come to you with an investment idea. i'm in it. i think you should be, too. would your reply be this? it depends on what my tax rate is on the gain we're going to make. if the tax isn't too high, i'd rather leave the money in my savings account. war len buff set says only in norquist imagine kwis. why a
in a swing state, the co2 question played a major role in the election concerning the coal mining question. to avoid any other misunderstanding, i know what it means to close a coal mine for 35,000 inhabitants, most of them employed in the coal mine. when you close down the coal mine, it was an economic disaster. but today, the coal mine is closed down and you have an economically flourishing city. so it is possible to step away from a traditional industrial structure, with public financing and support to go into another direction. therefore we need more money in the european budget. [laughter] mali and congo, i set a lot about our common commitment, and where the values are challenged, wherever terrorism and terrorist groups try to destroy countries, to bring countries to the state of a failed state, as a basis for terrorist groups to export their terrorism, we must act. somalia is a symbol. what is happening in mali is a direct result of the libyan revolution. it is now distributed in the whole region. not only mali. a at a meeting with the king of morocco to tell me that for his country
. president, you better watch yourself because we won the election. let's focus on those taxes on the rich. let's deal with entitlement down the line. that scares me. that is unrealistic. it goes against what we heard the president of the united states say. >> dana: when it comes to the math, do the math, they have a good opportunity in front of them. >> we heard senator reid said when asked he couldn't name any of the cut the democrats are willing to offer in the fiscal cliff negotiations. he said, "we need to get credit for cuts previously made." this is today. the cut previously made. i'm scratching my head to figure out what cuts the democrats made prior that they want credit for. if they did make credit cuts why did we run up four more years in a row? start fresh right now. talk about cuts and then talk about how are we going to raise revenues. >> eric: what would -- >> dana: what would harry reid mean by that? get credit on cuts they made. on what? >> bob: that is a $60,000 question. i'm not sure what he is talking about. but i know there will be cuts if entitlement program. readjust
side. melissa: y'all think the sell-off as the election has been because people are anticipating taxes going up? the market has been terrible since the election. >> i think the market has been a little bit volatile, but i don't think that the sell-off as unnecessarily massive. the behavior on the investors indicates otherwise. we are seeing flows into of advisers and advises sticking it -- melissa: would you think? >> i disagree. very little interest. if you look at the volume alone, contrary to my muni bonds, one of the best of the year after the election. to your point about the taxation of other assets. to meet the market is already reacting to this approach and what we think will happen in 2014 and 13. that's with a think is what is really going on. the market has had a terrible runs as the election. melissa: go ahead. >> i don't think you could have it both ways. the government's having terrible balance sheets and then trumpet the performance of many bonds. when it comes down to it, we are looking at is so low volume behavior in the market. that does not indicate a whole lot of ce
and medicaid. >> elections come and go. and when they go the spirit to find common ground becomes greater. >> reporter: georgia republican saxby chambliss and mark warner lead the gang of eight. four senate democrats and four senate republicans, who originally met in 2007 to craft a plan to cut the debt. >> you still don't have a final product after 2 1/2 years. why do shud we have any confidence that the president and the leaders should get anything done in the next two weeks? >> anything we look at we won't completely reform the tax code or completely make all the changes in the entitlement programs in the next seven weeks. over this last 2 1/2 years, we all know where the issues are. can we make enough of a down payment to assure the markets and put a real process in place that will allow us to work through this? >> reporter: chambliss says he and other republicans still oppose hiking tax rates on the wealthy, a move they contend kills jobs. instead, republicans propose limiting tax deductions for high earners. eliminating the mortgage deduction for second ho
moving lower. the sector began to take a hit following the election, and has yet to find its footing. liz: take a look at nat gas. they're all moving lower. the expectation of warmer weather across much of the u.s. means less usage of natural gas, particularly in the northern midwest and we were going to get snow tomorrow under an inch. david: and we are seeing weakness the department store stocks. macy's and nordstrom's underperforming in that particular sector. liz: how about some jewelry for the holidays. a rough year, but today it is making a huge push to get consumers to buy diamonds and fine jewelry. president and ceo harvey cantor here live to tell us what those deals are including a huge giveaway they're doing and how we are doing and what kind of a halo effect they're having on the giveaway. david: and economic advisors warning middle-class tax rates to rise and failing to catch could cause consumers to spend $200 million less than they normally would next year. coming up chairman of the president's council of economic advisors joining us to talk about the fiscal cliff and whethe
. he was first elected back in 19 0 and is preparing to enter his 17th term when the 13th congress convenes next year he currently serbs as chairman of the science, space and technology committee. he is the longest serving member of the committee and the first member to serve as a ranking member as both a republican and a democrat. now everybody know what is a comedian that ralph is and i want to share a funny story with you about him. at his birthday party in may of 2011, i was asked to say a few words about him. so i talked for a few minutes about him and about what it was like to serve with him and i ended by saying that i hoped to wrap up my time in congress in just three to four terms and would never aspire to serve as long as he is. to which ralph dryly replied, well, bill, we're going to miss you. he adds levity to every situation. mr. speaker, it's an han nor to work alongside ralph. i look forward to serving with him in the future and to addressing the many pressing needs of the american people. thank you and i yield back. the speaker pro tempore: mr. speaker, i yield two
with that in the past and the president was elect today stand up for the united states, that's what this is, a problem for our country and for our-- >> and do you believe that president obama, if this tax comes down the pipe from the united nations, he will say we're not paying? get off our backs? >> there's been no talk about it. it's hard to imagine. there's no precedent for it and it's rank speculation, i can't see it happen. that's not what we're talking about. >> would he defend our interest by saying we will not sign on to a u.n. carbon tax, did he do that? >> i think he'll defend our interest by saying it's time we good up for a grave and gathering threat. stuart: the question is simple, bob. >> i'm not trying it elude your question. stuart: you're not directly answering the question. if the united nations comes up with some form of carbon tax climate change, call it a tax, call it a fee. and the u.n. diverted towards climate change movement, if they come up with that kind of demand for our money, do you think that president obama will say, you're not getting it, get lost? >> i think he would,
off by possibly electing a bush when you have history of bush for eight years, clinton for eight years, obama for eight years, another bush when there was actually, you know -- well, wait, bush, clinton, bush, obama, bush. >> that's probably due for another obama. i think bush like christie is a republican who has crossover appeal. he has tremendous support among hispanics because of his position on immigration reform. tonight i'm going to be with governor bush. we are doing an event in washington talking about the need for educational reform as a big national security challenge unless we get k-12 education right, we're now not going to get this country right. and the fact that someone like jeb bush has become one of the principal champions of education reform has shown me how republicans can have appeal if they go beyond the narrow agenda. >> what do you think? >> i think he has enormous appeal. he's a very attractive candidate. and as richard pointed out, he is not the republican candidate we've seen in the past couple of elections. i mean, he has enormous appeal to the hispanic comm
since the election. there's no doubt about it. i think john, you'd verify this. number of republicans, i've talked to a couple of united states senators who said there's at least 10 to 12 republican senators who are willing to walk away from grover norquist on the tax pledge. >> it's breaking out all over. sanity is contagious. >> now, the question is, is the president going to stay where he is and go, you know what? we're going to do it my way or no other way? we're going to raise it to 90 -- to 39.6%. steve rattner had a great column yesterday. >> it's a must-read. >> you know there's more than one way to skin a cat, more than one way to raise over a trillion dollars in revenues. it doesn't just have to be the president's way. is the white house going to insist on the 39.6% tax rate, or will they consider the loophole part of it plus capital gains, plus a couple of other things? >> well, it looks to me like the white house has learned something over the course of the last four years which is that you don't start a negotiation by negotiating against yourself. >> right. >> you know, the
for re-election, talked about biden -- vice president biden said we're going to leave in 2014. that's the end of it. that's not the end of it. there is a counterterrorist force. there is a lieutenant in my book who was there as a regular combat soldier and is now a special forces soldier. and he is very optimistic and things that the work done at that outpost, he's in the minority. the work done is positive and is affecting change. i think -- >> eliot: in what way? as one who has been a skeptic of what we could succeed through military strength in a region where the tal band al-qaeda -- the taliban seems enmeshed and woven into the fabric of society. what have we accomplished? >> the book traces this one outpost from 2006 until 2009 when overrun by the taliban. in 2007-2008, that's a part of the narrative when there actually is very tangible achievement and the u.s. and the afghan government is willing to win over the local populous and get them to start casting out the terrorists in the villages and hamlets a
of things going on in politics as ever. we had regional elections in spain. yields you can see slightly higher, but still well below 6%. now, these regional elections fairly important because we know catalonia has been pushing on on independence. now, it looks less likely we'll get that referendum, but not because people in catalonia are any less eager on a separatist movement. just that they didn't vote for the main guy who is proposing it. they voted for competitor party which is makes it slightly harder in the short term for them possibly to get a referendum going. so eases the pressure in the short term but means there is still a longer term problem there. catalonia is one of those regions that still has very large deficits, as well. so the politics in spain slightly skewed as they will be, but not so much pressure on rajoy at the moment. unlikely to ask for assistance in the short term. we also have another euro group meeting take, back in brussels, yes, i know, we seem to have one every week. they may come up with a long term financing deal for greece. finally talking about debt f
that was dictated by the election results and it's dictated by the election results and the republicans can't be the people who hold back the entire movement of taxes and tax cuts extended for most people and i wish they could keep the highest tax rates slow where they are, because that's where the job creators are, and i think that the republicans will ultimately come to a deal and you know, they have to, otherwise, obama could hold it over their heads and beat them with it and claim that the republicans are the recalcitrant holdovers and i hope they don't do too much. stuart: i haven't heard anything on the other side of the fence, which is entitlement reform and spending cuts and that's ignored on the tax side of things. >> well, it's all politics, stuart. you know, they don't have to move right now. they just want to the let the republicans sit there and stew in their own juices, which is what's going on. the faster the democrats act the less political gain from the pressure under republicans. there's no real incentive for democrats to come out and be accommodative and they won't be unt
as a result of paying it earlier. >> adelson loses in the election so he realizes rates are going higher so he pays a special -- >> i don't know what the numbers add up to. he spent over -- how many millions did he spend? >> for investors that want to catch the next one, it's a shot in the dark to know who will be -- we're kind of running out of time here. >> the clock is ticking. >> go to one where you have grandkids relying on the dividend. anyone out there? >> it's great point. >> generation skip? >> walton grandkids, $800 million a month in dividends. >> how do you spend all that? >> i don't know. >> but brown forman is a fantastically performing -- a real winner. you may know this as jack daniels. very successful -- very successful growth company. as has bean. these are very, very cash flow spewing companies and they're giving it to you. i love it. i really do. >> it's amazing. >> we talked about it so long ago after the election you started to see it pop one after another. walmart setting the tone. >> returning capital to share holders is a theme. adt as well increasing its share repurch
on to foxnews.com. ♪ >> well, the election is over and the white house is putting out new rules for the health care law, one is telling how to reward workers for living a healthier life. so, ben, you know what? let's put aside the worry that this is going to drive up cost? isn't this more of the nancy state nonsense? >> big brother is watching you, big brother is watching you through the obama white house, through the department of health and human services and transmit that to the job and also to your employer. i don't like it. i don't want big brother watching me and telling me how much to eat or when to walk or whether or not to smoke, i like to live my own life, and i'm a grownup. i had my mother telling me what to to eat when i'm a child, i'm done with that, i don't want mr. obama to be my mother. >> and i listen to my mommy and calls me and tells me to eat more veggies i will, but i draw the line there. julian, i think it's part of that social utopia coming out of washington these days, not only ultimately expensive, but takes away from personal liberties. it's one thing to try to pick w
optimistic, a lot are arguing you have fewer people in the middle in both parties as a result of the election and don't have democrats willing to make the concessions of on spending cuts and health care, medicare as you don't have republicans on one side, but i think -- i had bob corker on yesterday or the day before with klim clyburn yesterday and they were praise ing -- clyburn was praising what corker had to say. the president has a lot of leverage. what he said to congressman cummings, don't pack your bags. we're going to be around pore a while. i have alan simpson coming on our show. >> fantastic. >> all right, andrea mitchell. 1:00, thanks. >> thank you so much, andrea. up next, baseball loses marvin miller. if you don't know the name, you ought to know the name. perhaps the most influential figure -- >> absolutely. >> baseball but also in the history of professional sports. mike barnicle will help explain why. sports is next. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. to
up above 13,000 barely on the dow. europe taking stock of spanish elections over the weekend waiting to see if they can agree on the bailout for greece. we start with black friday shopping weekend. numbers look out as we kick off cyber-monday. which retailers crushed it and which ones were crushed? >>> if you were keeping track, the dow added 421 points last week and bulls argue it could add even more if european leaders settle this dispute over greek aid. we'll discuss the potential impact as they meet in brussels right now. >> a big day for analyst upgrades. research in motion, facebook, yahoo! we'll go over those and see why citi needs three analysts to initiate coverage of apple. we'll begin with retail sales picture from this past weekend. 139 million consumers shopped during black friday weekend. that's up from 132 million last year. total spending up to 59.1 billion to 54.4 a year ago. average holiday shopper spending $434 over the weekend. sales on black friday fell 1.8% from the same day a year ago setting the stage for today known as cyber-monday. american shoppers will spe
is something the new congress ought on take care of. that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend time with the administration. i believe this administration spends there are spending problems and they want to address them. i believe they're willing to sit down and put everything on the table. i think we have to stop this mrilg gamesmanship -- >> they said they're taking social security off the table. they just said that. >> as far as the fiscal cliff goes. what they want us to say is we agree to higher taxes today for the promise of looking at spending in the future. i mean, come on. this is never going to happen unless we cut spending now. it's a shell ga
for the himpingts after the election republicans believe taxes should be raised on the wealthy but they should not be for two reasons. you should ask people what the wealthy pay in taxes. most people have no idea that 1% pays 40% of the taxes. do no warm, hippocratic oath. the cbo says if you raise taxes on the rich people you'll underperform the economy by a point. why do it at all, larry? >> do y do it the all all. the white house put out a study saying if we fall off the fiscal cliff consumers will lose 200 billion worth of sales, maybe income, too. why are we doing this, keith boyakin? >> two things. first of all, part of the reason, in response to layer, why 1% of the top earners pay 40% of the taxes is because they control 42% of all the income and wealth in the country so there's a great deal of income inequality in our country. we'll debate that larry. but second question, getting back to what you said, laurie kudlow, the white house report didn't say that raising tax on everyone was a problem. it said that raising taxes on the middle class would cause a $200 billion crimp or reduction
. >> although the president is in a position, he's not running for re-election again, kind of look at things -- >> he's in a position of compromise you would think. 2014, if you can get a democratic house, then you can consolidate everything and you can get a democratic house how? by making them -- >> by saying the republicans are -- >> obstructionists, blah, blah, blah. >> and then you play for the last two years. >> playing to just consolidate all your redistribution. >> i get it, but also a tough way to play the game. >> did you see drudge? >> i did. >> bush 3. >> jeb bush talking about 2016. >> and then christy -- >> already talking about 2016. >> we are. and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech
says he is stepping down from the ranks. just weeks ahead of the general election. the former general and one-time prime minister said he will stay at his post until a new government is formed. those are your headlines. back to dagen and connell. dagen: online black friday sales topping a record. $1 billion. connell: we want to know about today. supposed to be this big day online. we have sent adam shapiro out there. >> 1.2 million square feet. they have 40 of these centers throughout the united states. this is the largest. we are on a 15 minute rate. they will come back at 11:30 a.m. they have been going 247. anybody who is selling online. at amazon.com, they will sell more than 200 items per second. last year it was 204 items per second. they expect revenue in the fourth quarter to be 16 to possibly 30% higher. i want to give you a quick shot of that area i am in. they take them out and put them in the yellow fins. they are said further down the line to the pickers. then they package it. then it is sent to your house. we will talk to an exeeutive about the numbers and billion dollar
: joining us now is congressman louie gohmer, elected to a' term and vice chair of the committee on terrorism and homeland security and served as chief justice for the 12th court of appeals. let's start with the fiscal cliff. i want to go to your call for a special prosecutor. on benghazi, but, going to the fiscal cliff, the speaker making it very clear, that he's going to approach the negotiation of the white house, on the cliff, positively with some sense at least of accommodation, potential accommodation, if his terms are met. that is positive stuff, don't you think? >> well, it is positive. but, there's a lot of pressure, right now, and, of course, pressure is what you can use to take care bonn and make diamonds. this is the time to be bold. this is not the time to be defensive and i'm glad the speaker has come forward with a proposal but, the thing is, we ought to be taking the president's words and sticking them back with him. he wants everybody to pay their fair share. let's do it. let's have capital gains, 15%. let's have income tax, 15%, gift taxes, 15%, let's make sure
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